In this newsletter, you will find detailed information about your tax return(s) for the year 2024. We answer questions about deferral, documentation, rates, deductions, and our tips for ensuring that we receive the right information from you, in the right form. We will take an accurate look to your financial products, turning your tax return into a savings plan!
The process in 6 steps (detailed explanation below):
- We request an deferral for you;
- We request a VIA code – the code(s) must be returned to us;
- Next, we ask you to provide any missing documents;
- The codes will be activated, and the documents will be registered. Afterward, we will schedule the tax return;
- Once the tax return is complete, it will be submitted for your approval;
- After submission, you can generally expect an assessment within 3 months.
Please read this newsletter carefully. As in previous years, we remain committed to providing you with financial security.
Tax advice
A personal meeting to discuss changes in your personal and professional circumstances
The income tax return is a good starting point for taking a moment with your advisor at Poundwise to review your personal and financial matters. Changes in work or personal life from the past year, or those you expect in the coming year, can affect your tax return and other ongoing financial products. We would be happy to schedule a personal meeting with you to go through your financial affairs. This way, we can keep your financial household in order. To make an appointment, contact: secretariaat@poundwise.nl, or call: +31(0)20-3057555.
Timely, correct, and complete submission of data
We ask you to submit your data for your tax return for the year 2024 upon request and in the manner prescribed by us. Timely and correct submission can quickly result in significant savings and prevent unnecessary costs. Below we inform you how to best approach this.
Deferral
Poundwise will apply for deferral for all its tax advice clients. You will not receive feedback from the tax authorities about this. If you unexpectedly receive a reminder to file your tax return(s), we kindly ask you to contact one of our advisors immediately. Without deferral, the 2024 tax return must be submitted by May 1, 2025; with a deferral, this deadline is exactly one year later.
Poundwise serves a large number of clients for whom we draft and file tax returns, which is why we spread the work out over the deferral period. We have clients who prefer to file as soon as possible and others who prefer to file as late as possible. Poundwise tries to accommodate your preferences as much as possible.
Delivery
You can send your documents by email to: belastingaangiften@poundwise.nl.
We prefer to receive the documents complete and in one email.
Of course, you do not need to send us documents that you have already provided. On our website you can find a document listing all necessary information and documents. Click here for the IB 2024 checklist.
Rate for private tax returns
If you have a Comfort subscription with us, the costs for preparing your tax return(s) are included in the monthly cost of this service subscription (you are entitled to one tax return per full-year subscription). If you would like more information about our service subscriptions, please feel free to contact us.
If you have not taken out a service subscription, the costs for the tax return for one person are €495,- and if we can combine the tax return with that of your fiscal partner, you will pay €595,- for both returns together (for a regular individual return for a domestic taxpayer, excluding special cases).
These costs presume that the documents will be delivered to us in full and in one email, and that you will provide immediate approval for the filing of the return. This rate does not include charges for additional investigations, reviews, extra reminders or further fiscal work. Such additional work will be charged at the hourly rate of the advisor in question. If you would like to have an advance quote, please let us know. Applicable rates for entrepreneurs and migration forms are not the same as those given above. Should you have any questions about these rates, please contact one of our tax advisors, tel: +31(0)20-3057555.
Deductions
IFor the year 2024, there are several deductions that apply under specific conditions, for example costs for mortgage interest. These deductions are listed on page 5 of the tax return form checklist 2024.
We advise you to go through these and provide us with the relevant documents. If you have relevant documents that are not listed on the checklist, please include them.
There are expenses you may deduct under certain conditions as personal deductions, including:
- Partner alimony
- Expenses for specific healthcare costs (medical costs)
- Expenses for pension settlement
- Expenses for the temporary care of severely disabled persons at home
- Study costs or other educational expenses (only in very specific situations)
- Donations
- Remaining personal deductions from previous years
For your information, study costs or other educational expenses have not been deductible since 2022, unless the performance grant has not been converted into a gift.
In addition to personal deductions, there are other deductions (e.g., public transport costs, annuity premiums, etc.). These expenses can be deducted from the income for which the costs are incurred. You cannot deduct all costs. Sometimes, certain costs are not deductible, and sometimes the deduction is limited. If you are unsure whether certain costs are deductible, please feel free to send them along.
Tax return processing
After we have completed your tax return(s), we will send it to you (by email) for approval. If you wish, you can come to our office to discuss the return(s). In some cases, we may invite you to discuss the return(s). We kindly ask you to approve the return(s) as soon as possible after receiving it. After receiving your approval, we will file the tax return(s) with the tax authorities.
Once the return(s) has/have been filed, the tax authorities will need approximately 3 months to issue the final assessment. Poundwise has no control over the processing time of tax return(s) by tax authorities.
Provisional assessments/refunds
A provisional assessment is a document describing how much tax is due or how much you will receive. This amount is based on a provisional calculation. You cannot derive any rights from this provisional assessment.
Deductions: If there is a deduction, you can choose to receive your refund in instalments throughout the year. Poundwise can assist with changing, stopping, or requesting these.
If you have forgotten to include a deduction in the past, Poundwise can always request the tax authorities to allow the deduction retroactively. It is not guaranteed, but it is often worthwhile!
Interest
The assessment also lists any tax interest due or receivable. If you are entitled to payment from the tax authorities, in specific cases you will also receive interest. However, in most cases you will not receive interest. Do you have to pay an amount? Then you will pay interest. Tax interest is not a penalty.
Tax interest is only calculated after the end of the tax year. This means that no interest is calculated in the current year. The period over which the interest is calculated runs from July 1, 2025, to the date indicated on the assessment.
Electronic copies of assessments (EKA)/Service messages assessments (SBA)
Poundwise only receives digital copies of assessments from the tax authorities if there is an active EKA/SBA request. For all other assessments, we do not receive a copy. The tax authorities confirm that digital copies are sent to our office. You can decide whether you agree to this. Every year, a notification will be sent to remind you that the copies of your assessments will be forwarded to us. You may retract your authorization at all times. If you receive an assessment and are unsure if it is correct or do not understand the purpose, please contact our office.
Information from the tax authorities
We can request the tax authorities for a VIA (pre-filled tax return). We will check and possibly supplement or amend the VIA data. Despite the VIA, we may still need information from you. You will receive an activation code from the tax authorities that allows Poundwise to activate the registration (this authorization is only valid for 1 year and per client). We kindly ask you to share the code with Poundwise by emailing it to: belastingaangiften@poundwise.nl (with your full name or BSN). You may retract your authorization at any time.
We look forward to receiving your documents!
If you have any further questions, feel free to contact us by phone at: +31(0)20-3057555.
Get acquainted?
Daphne Alon
Tax advisor/financial planner
